Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower, influenced by a decline in soybean oil prices on the Chicago Board of Trade (CBOT). This development was shared by a trader observing the market trends.

According to BERNAMA News Agency, palm oil and soybean prices often exhibit synchronized movements as they vie for the same market space. Iceberg X Sdn Bhd proprietary trader David Ng commented on the cautious trading atmosphere, attributing it to uncertainties stemming from the US-Iran conflict. Ng noted that while prices remain supported above RM4,500 per tonne, they encounter resistance at RM4,680 per tonne.

At the market's close, the May 2026 contract saw a decrease of RM115, settling at RM4,527 per tonne. The June 2026 contract fell by RM134 to RM4,547, and the July 2026 contract dropped RM131, closing at RM4,579 per tonne. Similarly, the August and September 2026 contracts both declined by RM129, ending at RM4,592 and RM4,593 per tonne, respectively. The October 2026 contract also saw a reduction of RM128, concluding at RM4,592 per tonne.

Trading volume saw an increase, reaching 113,819 lots compared to 91,276 lots on Tuesday, while open interest rose to 281,781 contracts from the previous 273,309 contracts. Additionally, the physical CPO price for May South decreased by RM60, settling at RM4,590 per tonne.